Granules India has surged 8% to Rs 286 on back of heavy volumes on the bourses. The stock opened at Rs 267 and touched a new high of Rs 291 on the BSE.
A combined 1.27 million shares have already changed hands on the counter till 1050 hours against an average sub 0.50 million shares that were traded daily in past two weeks on the BSE and NSE.
Shares of pharmaceutical company has rallied 36% from Rs 210 on January 27, after reported over three-fold rise in net profit at Rs 21.8 crore for the third quarter ended December 31, 2013, as against Rs 5.8 crore for the corresponding period last year.
Net sales of the company during the quarter rose by 45% at Rs 284 crore, as against Rs 195 crore last year. The EBITDA or operating margin increased by 630 bps yoy to 16%, Granules India said in a statement.
The growth was driven by strong performance across all manufacturing units, including the formulation facility at Gagillapur, near Hyderabad, which continued to scale up the production, it added.
A combined 1.27 million shares have already changed hands on the counter till 1050 hours against an average sub 0.50 million shares that were traded daily in past two weeks on the BSE and NSE.
Shares of pharmaceutical company has rallied 36% from Rs 210 on January 27, after reported over three-fold rise in net profit at Rs 21.8 crore for the third quarter ended December 31, 2013, as against Rs 5.8 crore for the corresponding period last year.
Net sales of the company during the quarter rose by 45% at Rs 284 crore, as against Rs 195 crore last year. The EBITDA or operating margin increased by 630 bps yoy to 16%, Granules India said in a statement.
The growth was driven by strong performance across all manufacturing units, including the formulation facility at Gagillapur, near Hyderabad, which continued to scale up the production, it added.
